The Worldwide Retail Analytics Industry is Expected to Reach $23.8 Billion by 2027

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Aug 05, 2021, 12:00 ET

DUBLIN, Aug. 5, 2021 /PRNewswire/ -- The "Retail Analytics Market by Component, Organization Size, and Application - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

This report provides an in-depth analysis of retail analytics market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. The retail analytics market is expected to reach USD 23.8 billion by 2027, growing at a CAGR of 19.1% during the forecast period of 2020 to 2027.

This market is majorly driven by factors such as the rising adoption of disruptive technologies, such as AI and machine learning, to forecast future market trends and the growing number of smartphones promoting the growth of the m-commerce sector. However, lack of technology adoption by the unorganized retail sector and legal & data privacy issues hinder the growth of this market. The growing adoption of cloud services in retail and the advent of computer vision are expected to offer significant growth opportunities for players operating in this market.

The study offers a comprehensive analysis of the retail analytics market with respect to component, organization size, application, and geography. The retail analytics market by component (software and services), organization size (large enterprises and small & medium-sized enterprises), applications (finance, marketing and price optimization, human resources, operations, and others), and region. The study also evaluates industry competitors and analyses the market at a country level.

Based on component, in 2020, the software segment is expected to account for the largest share of the overall retail analytics market. The large share of this segment is mainly attributed to the growing adoption of software solutions by retailers to engage with a number of consumers for a longer period and enhance customer experience.

In 2020, the large enterprises segment is expected to account for the largest share of the overall retail analytics market based on organization size. The growth of this segment is primarily attributed to the increasing investments carried out by the large enterprises for enhancing the customer experience and improvising retail operations. Due to the strong financial backup, large enterprises are investing heavily in advanced technologies, such as retail analytics. The small & medium-sized enterprises (SMEs) are expected to grow at the highest CAGR during the forecast period.

Based on application, in 2020, the marketing and price optimization segment is expected to account for the largest share of the retail analytics market. The large share of this segment is primarily attributed to the growing need of enterprises to enhance their sales by performing various marketing advertisements and campaigns based on customer preferences.

Geographically, in 2020, the North American region is expected to command the largest share of the overall retail analytics market. The large share of this region can be attributed to the extensive usage of data-driven technologies and the growing shift of consumers to e-commerce retail. In addition, the Asia-Pacific region is expected to grow significantly with a high CAGR in the forecast period due to growth in high-tech infrastructure compatible with the retail industry and rising number of start-ups offering retail analytics solutions and services in the region.

The key players profiled in the retail analytics market are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Salesforce.com, Inc. (U.S.), SAP SE (Germany), HCL Technologies Limited (India), SAS Institute, Inc. (U.S.), Qlik (U.S.), Manthan Software Services Pvt. Ltd. (India), BRIDGEi2i Analytics Solutions (India), MicroStrategy Incorporated (U.S.), Teradata (U.S.), Amazon Web Services (U.S.), Fujitsu (Japan), Oracle Corporation (U.S.), Domo, Inc. (U.S.), and Tableau Software, Inc. (U.S.) among others.

Key questions answered in the report

Which are the high growth market segments in terms of the components, organization size, application, and country?
What is the historical market for retail analytics across the globe?
What are the market forecasts and estimates from the period of 2021-2027?
Who are the major players in various countries, and what share of the market do they hold?
What are the recent developments in the retail analytics market?
What are the different strategies adopted by the major players in the retail analytics market?
What are the geographical trends and high-growth countries?
Who are the local emerging players in the retail analytics market, and how do they compete with the other players?

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.1.1. Drivers
4.1.1.1. Growing E-Commerce & Adoption of Analytics by Online Retailers
4.1.1.2. Advent of Computer Vision in the Retail Sector
4.1.1.3. Growing Significance for Enhancement of Customer Experiences and Retail Operations
4.1.2. Restraints
4.1.2.1. Lack of Technology Adoption by Unorganized Retail Sector
4.1.2.2. Legal Concerns and Data Privacy Issues
4.1.3. Opportunities
4.1.3.1. Rising Adoption of Disruptive Technologies to Forecast Future Market Trends
4.1.4. Challenges
4.1.4.1. Retailers Face a Data Deficit in the Wake of the Covid-19 Pandemic
4.1.5. Trends
4.1.5.1. Growing Adoption of Cloud Services in the Retail Sector
4.2. Impact of Covid-19 On the Retail Analytics Market
4.3. Case Studies: Retail Analytics Market
4.3.1. Case Study-A
4.3.2. Case Study-B
4.3.3. Case Study-C
4.3.4. Case Study-D
4.3.5. Case Study-E

5. Retail Analytics Market, by Component
5.1. Introduction
5.2. Solutions
5.2.1. Business Intelligence Solutions
5.2.2. Sales Forecasting Solutions
5.2.3. Demand Forecasting Solutions
5.2.4. Other Solutions
5.3. Services
5.3.1. Professional Services
5.3.2. Managed Services

6. Global Retail Analytics Market, by Application
6.1. Introduction
6.2. Marketing & Price Optimization
6.2.1. Catalog Management
6.2.2. Merchandising Analytics
6.2.3. Pricing Analytics
6.2.4. Promotional Analysis & Planning
6.3. Operations
6.3.1. Inventory Analytics
6.3.2. Digital Supply Chain Analytics
6.3.3. Customer Analytics
6.3.4. Order Management
6.4. Human Resources
6.5. Finance
6.5.1. PoS Management
6.5.2. Payment Management

7. Retail Analytics Market, by Organization Size
7.1. Introduction
7.2. Large Enterprises
7.3. Small & Medium Enterprises (SMEs)

8. Retail Analytics Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. South Korea
8.3.5. Rest of Asia-Pacific
8.4. Europe
8.4.1. Germany
8.4.2. U.K.
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Rest of Europe
8.5. Latin America
8.6. Middle East & Africa

9. Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Ranking by Key Players (2020)

10. Company Profiles
10.1. Microsoft Corporation
10.2. IBM Corporation
10.3. Salesforce.Com, Inc.
10.4. SAP SE
10.5. SAS Institute Inc.
10.6. QlikTech International Ab
10.7. Bridgei2i Analytics Solutions
10.8. MicroStrategy Incorporated
10.9. Teradata
10.10. Fujitsu Limited
10.11. HCL Technologies Limited
10.12. Amazon Web Services, Inc.
10.13. Oracle Corporation
10.14. Domo, Inc.
10.15. Informatica

11. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/39yxnr

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